Renewable energy certificate mechanism and markets in Taiwan: The evolution and characteristics

With the world striving to achieve net-zero emissions by 2050, carbon-free energy systems must accelerate. This study examines how Taiwan’s renewable energy certificate (T-REC) assists Taiwan-based global enterprises in meeting supply chain requirements and establishing a renewable energy certification and initial market system with reliability and validity. The analysis examines several critical dimensions, including government-led initiatives, the voluntary nature of the program, the design of bundled certificates, and their integration with the national greenhouse gas registry. From an institutional perspective, it can be affirmed that the institutional design of the T-REC aligns with the fundamental purpose of energy attribute certificates in promoting the development and utilization of electricity derived from renewable sources. The reliability of the T-REC can be strengthened through government-led governance. Furthermore, the T-REC tracking system is integrated with the national greenhouse gas registry platform to prevent the double-counting of environmental benefits. From a market perspective, the design of the T-REC shapes the quality and operational regulations of the initial renewable electricity trading market.

Renewable energy certificate mechanism and markets in Taiwan: The evolution and characteristics